About the FX Multi Meter Indicator
The FX Multi Meter Indicator for MT4 is a versatile trading tool that consolidates multiple technical indicators into a single dashboard.
It analyzes the attached currency pair using MACD, PSAR, and Stochastic, giving traders a quick view of trend direction.
This allows you to spot high-probability trades without switching between multiple indicators.
The dashboard updates in real time and works on any currency pair and timeframe.
It’s useful for day trading, swing trading, and scalping.
Beginners benefit from its straightforward signals, while experienced traders can combine it with other analyses for confirmation.
Free Download
Download the “FX_Multi-Meter.mq4” indicator for MT4
Key Features
- Displays trend direction using MACD, PSAR, and Stochastic
- Red bars or indicators show a bearish trend, green bars show a bullish trend
- Works on all currency pairs
- Advanced dashboard with customizable layout
- Real-time updates for active trading
- Can be used for scalping, day trading, and swing trading
Indicator Chart
The FX Multi Meter dashboard shows the overall trend based on three indicators.
Green signals indicate bullish momentum, red signals indicate bearish momentum.
It allows traders to quickly see whether a currency pair is trending or moving sideways.
Guide to Trade with FX Multi Meter Indicator
Buy Rules
- Enter a buy when most indicators turn green
- Close or reverse if the majority turns red
Sell Rules
- Enter a sell when most indicators turn red
- Close or reverse if the majority turns green
Stop Loss
- Place a stop 3 pips below the recent swing low for buys
- Place a stop 3 pips above the recent swing high for sells
- Keep it tight for short-term trades
- Adjust slightly during volatile sessions
Take Profit
- Target small gains on M1/M5 charts, 5–20 pips
- Use larger targets on M15 and above
- Exit when the majority of indicators change color
- Partial profits near support/resistance levels
Practical Tips
- Trade major sessions for higher liquidity
- Avoid trading during major economic news
- Combine with trend lines or support/resistance for confirmation
- Check spreads before entering trades
- Keep a short log of trades to refine stop and take profit levels
FX Multi Meter + SuperTrend NRP Day Trading MT4 Strategy
This day trading strategy combines the FX Multi Meter Indicator and the SuperTrend NRP Forex Indicator to identify strong intraday trends.
The FX Multi Meter evaluates MACD, PSAR, and Stochastic, and signals bullish conditions when all turn green, bearish when all turn red.
The SuperTrend NRP confirms the trend with a green line for bullish and a red line for bearish momentum.
This strategy works best on 15-minute to 1-hour charts during active trading sessions.
Buy Entry Rules
- Wait for all indicators on the FX Multi Meter to turn green (MACD, PSAR, Stochastic).
- Confirm the trend is bullish with the green line on the SuperTrend NRP indicator.
- Enter a buy trade at the close of the confirming candle.
- Set the stop loss below the recent swing low or nearby support.
- Set take profit at a 1:2 reward-to-risk ratio or exit if the FX Multi Meter turns red or the SuperTrend line turns red.
Sell Entry Rules
- Wait for all indicators on the FX Multi Meter to turn red (MACD, PSAR, Stochastic).
- Confirm the trend is bearish with the red line on the SuperTrend NRP indicator.
- Enter a sell trade at the close of the confirming candle.
- Set the stop loss above the recent swing high or nearby resistance.
- Set take profit at a 1:2 reward-to-risk ratio or exit if the FX Multi Meter turns green or the SuperTrend line turns green.
Advantages
- Multiple indicator confirmation reduces false signals.
- Helps traders enter in line with the prevailing trend.
- Non-repainting indicators provide reliable intraday signals.
- Clear rules improve trading discipline and consistency.
- Can be applied across several currency pairs and timeframes.
Drawbacks
- Entry signals may be delayed while waiting for all indicators to align.
- Short-term pullbacks can trigger stop losses before trend continuation.
- Not ideal for scalping on very low timeframes due to indicator confirmation lag.
- Exotic pairs like NZD/CHF or GBP/NZD may experience sudden volatility spikes.
Case Study 1
On the NZD/JPY 30-minute chart, all FX Multi Meter indicators turned green, and the SuperTrend NRP line was green.
A buy trade was entered at 82.15, with a stop loss at 82.00 and a take profit at 82.50.
The trade reached take profit within 3 hours, yielding a 35-pip gain.
Case Study 2
On the GBP/AUD 1-hour chart, all FX Multi Meter indicators turned red, and the SuperTrend NRP line was red.
A sell trade was entered at 1.8425, with a stop loss at 1.8450 and take profit at 1.8350.
The trade reached take profit within 4 hours, capturing a 75-pip gain.
Strategy Tips
- Use moderately volatile pairs such as NZD/JPY, GBP/AUD, AUD/CHF, and USD/CAD for intraday moves.
- Apply strict risk management: risk no more than 1-2% per trade.
- Consider trailing stops to secure profits during strong trend movements.
- Limit trades per day to maintain focus and avoid overtrading.
- Check higher timeframes to ensure alignment with the broader trend.
- Avoid trading during major news releases, especially for pairs prone to large gaps like GBP/AUD and NZD/JPY.
Download Now
Download the “FX_Multi-Meter.mq4” indicator for Metatrader 4
FAQ
What does the FX Multi Meter measure?
It combines MACD, PSAR, and Stochastic to show the current trend and momentum for any currency pair.
How do I read the dashboard?
Green indicators mean bullish pressure, red indicators mean bearish pressure. The majority color shows the overall trend.
Can I use it with other strategies?
Yes, it works well with support/resistance, breakout, or trend-following systems for confirmation.
Is it suitable for beginners?
Yes, the dashboard simplifies multiple indicators into a single, easy-to-read signal, making trading easier for new users.
Does it show entry and exit points?
It signals trend direction. Entries can follow the majority color, and exits can be made when the color shifts or targets are hit.
Summary
The FX Multi Meter Indicator for MT4 is a comprehensive dashboard tool for monitoring currency pair trends.
It consolidates MACD, PSAR, and Stochastic signals into a single, easy-to-read interface, helping traders make faster decisions.
Ideal for scalping, day trading, and swing trading, it highlights potential entries and exits in real time.
Beginners can follow the color signals, while experienced traders can combine it with other strategies for higher accuracy.
